Russia's Tatneft oil company restarts Libya operations

The Russian oil company Tatneft is resuming work in Libya after being forced to stop in the wake of the uprising that overthrew longtime leader Muammar Gaddafi two years ago, according to The Libya Herald.

Tatneft staff members are returning to the oil-rich African nation after company representatives reached an agreement with the Libyan National Oil Corporation following four months of negotiations, UPI said, citing Russia's RIA Novosti.

Tatneft is Russia’s sixth-largest oil company and the first to establish a base in Libya, said the Herald.

Since starting work there in 2006, Tatneft sunk $250 million into its Libya operations, reported UPI.

No further details on Tatneft's newly-started operations in Libya were provided, said UPI.